HYBE is declining. It appears that the halt on the dismissal of Min Hee-jin, CEO of Adore, has had an impact.
As of 10:17 AM on the 31st, HYBE was trading at 196,000 KRW, down 8,000 KRW (3.92%) from the previous trading day.
The Seoul Central District Court granted the injunction filed by CEO Min the day before, prohibiting the exercise of voting rights against HYBE.
Earlier, HYBE had launched an audit, suspecting that CEO Min had planned to seize control of Adore's management. They also filed charges against CEO Min for breach of fiduciary duty.
Additionally, an extraordinary shareholders' meeting was held that day to dismiss CEO Min and directors close to her. However, due to the court ruling the previous day, exercising voting rights for CEO Min's dismissal became difficult.
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